Many still perceive Vietnam as the poorest country, which has stalled in development, including in the field of economy. But this is far from the case, since a small country has a high potential for economic development, demonstrating an active rise in recent years.
Economic situation and income in 2021
In I quarter 2019 the growth of Vietnam's economy grew 7,38%... This is the highest figure in the last 10 years, emphasizes the country's Deputy Prime Minister Truong Hoa Binh. Economists assure that the II quarter will show growth in 6.51%, III - 6.84%, and IV - 6.75%. Economic growth by the end of the year is expected to be at the level of 6,83%.
It is projected that growth will remain at an average of 6,5% until 2021. Now the country is considered medium-developed, the average per capita income per year is more than 2000 dollars... The country receives the main profit from tourism, export of coffee, agricultural products, light industry goods, furniture and other industrial goods.
Salary per month by profession in 2021
In Vietnam, a simple worker pay little. The gap between the incomes of the rich and the poor is very noticeable. Big businessmen benefit from cheap labor. To make good money in Vietnam, you need to be highly qualified. Thus, statistics show that as of May 2018, the minimum wage level was 3,980,000 VND ($ 174.4), and the highest salary of a highly qualified specialist is 11.5 million dong (504 $)... The average wage in Vietnam is maintained at around 295 $.
Below is a table where you can track salaries in dollars by profession for 2021.
| Average | |
| Dentist | 1284 |
| Doctor | 1007 |
| Software developer | 713 |
| Web Programmer | 552 |
| Nurse | 557 |
| An electrician | 379 |
| Accountant | 401 |
| Teacher | 381 |
| Policeman | 360 |
| Fireman | 340 |
| Plumber | 351 |
| Handyman | 368 |
| Guide | 366 |
| Construction worker | 286 |
| Bus driver | 269 |
| Taxi driver | 247 |
| Loader | 242 |
| Hotel worker | 216 |
| Housemaid | 192 |
| Nanny | 173 |
As a rule, for employment in Vietnamese branches, it is imperative to know the national language, since there are not only foreigners in the team, but also locals. But Russian speakers are also welcome, but into the tourism industry: there are a lot of Russian tourists in Nha Trang during the season, the guides will have enough work.
Minimum
The last increase in the minimum wage in Vietnam occurred in 2016. So, from January 1, 2016, the Vietnamese National Salary Council decided to raise the minimum wage by 12,4%.
If we sum up all the latest innovations, then since the beginning of 2015 the minimum wage has increased by15%... And over the past 15 years, salaries have increased 17 times, which speaks of the active rise of the state and excellent prospects for development. Now the minimum wage is VND 3.5 million.
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The minimum wage also depends on education. If the employee has a diploma in the specialty for which he wants to get a job, the salary is set at 7% above the minimum.
Average starting
The average salary that will be offered to a foreigner planning employment in Vietnam depends on the industry, location of the company and the education of the employee. Usually foreigners are hired for highly qualified positions with a salary from 500 to 1000 dollars.
There are also vacancies in the field of tourism, but here the salary is lower. So, being a tour guide or a guide in Nha Trang, a foreigner can earn 450 dollars.
Maximum salary
The most prestigious vacancies are offered by international firms that are not constrained in funds. In such a firm, a valuable employee manages to earn good money. For instance:
- highly qualified specialists receive from 600 to 1000 $;
- a Russian-speaking guide can earn money on excursions up to $ 450, and in the season - up to $ 3000 per month;
- a private person's maid earns from $ 500-600.
And state-owned companies pay the most in the following industries:
- healthcare: from $ 350 per month;
- banking system: from $ 370 monthly;
- metallurgy: $ 550 per month.
Payment for labor by regions and cities of Vietnam
Vietnam is divided into 4 zones, which differ in terms of economic development. Each area has its own minimum wage.
He constantly indexed, and to date is:
- Zone 1: 3,500,000 VND ($ 155);
- Zone 2: 3,091,000 VND ($ 135);
- Zone 3: 2 697 600 dongs ($ 118);
- 4 zone: 2,416,600 dongs ($ 106).
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Each employee has the right to receive a salary not lower than the minimum wage level in the region. And in developed Vietnamese cities, salaries can exceed the established minimum several times.
Each city requires its own specialists, for example:
- Hanoi and Ho Chi Minh City - business centers of the country, where high-class specialists are required: accountants, programmers, PR-managers. Salary have good expert can exceed 1000 $.
- Mui Ne - tourist city, where a lot of rest Russian. It is worth looking for work in hotels or as a tour guide. In the tourism sector, salaries are high here, especially during the season. Guides can earn up to $ 3000.
- Nha Trang Is a city that is developing rapidly. Well-developed automotive industry, as well as tourism. The salary level is in the range from 300 to 1000 $, but you need to be a quality specialist to get high pay. There is an active retail trade in fabrics, traditional medicine products, and souvenirs. Seller's salary starts from $ 200-250, A man with the ability to sell is getting good interest.
Payroll taxes
Compared to other countries in the world, taxes in Vietnam are low. It maintains a low corporate tax, low VAT and progressive personal income tax: all this makes the country suitable for the active development of its own business.
Income tax
Income tax is paid by:
- live at home citizens of Vietnam;
- Vietnamese working abroad or on a business trip;
- Vietnamese stateless persons living in the country for 183 days;
- migrants officially employed in Vietnam.
Income tax must be paid by Vietnamese with income of 5 million dongs and foreigners with earnings of 8 million or more who officially work in the country. The tax is levied on wages, taking into account remuneration, allowances and benefits, with the exception of certain allowances.
Tax rates for Vietnamese citizens:
| Monthly Average Income (VND) | Tax rate (%) | How is it calculated |
| Up to 5 million | 5 | Salary x 5% |
| 5 000 000 – 10 000 000 | 10 | Salary x 10% - 250,000 |
| 10 000 000 – 18 000 000 | 15 | Salary x 15% - 750,000 |
| 18 000 000 – 32 000 000 | 20 | Salary x 20% - 1.65 million |
| 32 000 000 – 52 000 000 | 25 | Salary x 25% - 3,250,000 |
| 52 000 000 – 80 000 000 | 30 | Salary x 30% - 5,850,000 |
| More than 80,000,000 | 35 | Salary x 35% - 9,850,000 |
Foreign citizens living in Vietnam for more than 30 days pay personal income tax according to the following scheme:
- Fixed rate 25% nWhen staying in the country from 30 to 183 days.
- The progressive scale of rates is similar to the data in the table. The tax is levied on income starting from 8 million VND.
Foreigners can only send earnings abroad after filing a tax return and paying all taxes.
Social insurance
In addition to personal income tax, contributions for compulsory insurance are levied on employees' salaries. In Vietnam, there are 3 forms of social insurance, where the employer or employee transfers money:
- Social Insurance Fund;
- Health Insurance Fund;
- unemployment insurance fund.
The amount of contributions is calculated based on the salary specified in the employment contract. If the employee's salary is above 20 minimum wages, contributions are transferred from the full amount of income.
Contributions are also levied on the salary of a foreigner who has worked in Vietnam for more than 3 months, with the exception of contributions to the unemployment insurance fund.
Income that is not taxed
Income tax and other contributions are not subject to:
- overtime pay;
- daily allowances, lump sums, subsidies for meals during working hours;
- additives for toxicity and work in a hazardous enterprise;
- payments for accidents related to work or occupational diseases, subsidies for one-time difficulties;
- childbirth and loss of breadwinner subsidies;
- earnings for working in new economic zones or on remote islands with difficult conditions;
- awards and bonuses for obtaining a title from the state, awards for inventions and innovations approved by federal competent authorities.
Cost of living in Vietnam
According to the Russians living in Vietnam, the cost of living here is much cheaper than in Russia. So, the most costly are:
- Rental of property. Per 200 $ you can rent an apartment with two bedrooms. A one-room apartment on the outskirts will cost even less - about 100 $... For comparison, in Russian regional centers "odnushki" are rented for $ 300-400.
- Communal payments. In Vietnam, as in Russia, they pay monthly for electricity, water, Internet, TV, and garbage collection. Residents in apartment blocks also pay “management fees»- a package of payments for using the elevator, light at the entrance, cleaning in the area around the house. The amount of payments depends on the prestige of the area: the average value is $ 20 per month, in prestigious areas the figure may be higher.
- Nutrition. Food prices in Vietnam are minimal. There are many fruits, vegetables, high quality seafood here. On average, food costs 3-4 times less money than in Russia.
- Directions. For long-term stays in Vietnam, it is recommended to buy a bike. It will be much more economical than spending money on public transport. The motorbike stands about 350 $, and maintenance and gasoline will cost about 400 rubles monthly.
- The medicine. Vietnamese medicine is considered one of the cheapest in the world. So, one appointment with all examinations and analyzes in a public hospital will cost 10–15 $... A private clinic will be more expensive - about 50 $... Drug prices are also low.
Of course, it will be difficult for one person with the minimum wage to live in Vietnam, for a young couple of specialists it will be much easier. If you wish, a lot of possibilities open up.
Unemployment Rate and Prospects for Migrants
In 2021, the unemployment rate in Vietnam is 2%, it has been steadily decreasing every year. Considering that the country is home to 96 million people, this figure is impressive. There are many working youth here. Migrants, including Russians and Ukrainians, have the prospect of getting a good job in an Asian country.
Russians are gladly recruited into the tourism industry; there is also a shortage of highly qualified specialists in Vietnam. It requires sensible PR-managers, marketers, programmers. Russian-speaking tour guides are in demand. A foreigner who has established himself as a good narrowly focused specialist has the opportunity to receive a salary from 1000 $.
Vietnam is a good option for moving, especially for those who like heat and humidity. But first, you definitely need to go to the country several times to relax - to check if the climate is suitable and make useful contacts. Here a foreigner can make good money, whether he is a highly qualified specialist or a Russian-speaking guide at seasonal work.
